The Global Digital Asset and Cryptocurrency Association (Global DCA) announced on Wednesday it has officially launched to guide the evolution of this new technology within a regulatory framework designed to build public trust, foster market integrity, and maximize economic opportunity for all participants.
The Global DCA describes itself as the global self-regulatory association for the digital asset and cryptocurrency industry. The organization’s membership includes spot and derivative exchanges, proprietary trading firms, traders, investors, asset managers, brokerage firms, Futures Commission Merchants (FCMs), custodians, decentralized technology organizations, banks, legal firms, audit firms, insurance professionals, non-profits, and academics.
“To fulfill its mission, the Global DCA devises standards and consensus-based solutions that address the major challenges facing the digital asset and cryptocurrency industry. We collaborate with stakeholders around the world, industry leaders and policymakers to support the growth of the global digital economy.”
While sharing more details about the organization, Renata Szkoda, Treasurer of the Global DCA and CFO of Blue Fire Capital, stated:
“Blockchain technology is groundbreaking and represents in so many ways a ‘reset’ within the world of traditional finance, banking and financial investment. The development of an unambiguous and suitable regulatory framework that is tailored to the needs of this developing technology is necessary for its evolution and mass adoption. At this stage, in my opinion, a unified industry engagement is essential and the Global DCA provides a compelling forum for it.”
Global DCA added it also does the following:
- Provide thought leadership and facilitate industry engagement
- Advocate for a regulatory environment that facilitates innovation and protects consumers, stakeholders, and the broader public interest worldwide
- Provide education, training, certification and other resources to build human and technical capacity